The Bureau of Labor and Statistics (BLS) released the January inflation data [DATA HERE] along with the yearly data from 2021. The “first round” of retail grocery price increases starts to surface; but this is only the first round. January inflation was actually much worse than the bad data inside the BLS analysis.
Additionally, the BLS readjusted the weighting for relative price importance, putting added weight to urban economic priorities (ie. food at restaurants), which indicates their intent to downplay the scale of inflation overall. The topline statistic of 7.5% annual inflation (year over year) is bad; however, because of weighting that figure belies the bigger issue, it’s actually much worse. In January alone inflation jumped 0.8% (unadjusted), primarily driven by the first-round of 2022 consumer inflation that preexisted since early December 2021.
To give an idea of how much prices have increased, we modified BLS Table 1 to take out some noise. Look at the single month of January (red box).
Look at January “electricity” price increases. A jump of 4.5% in one month alone, and keep in mind the BLS puts far less importance on electricity than “food away from home”.
In fact, the weighting for economic importance of restaurants is 5 times greater than the electricity to power your house.
Always keep in mind inflation data is backward looking. So it is a capture of the price increase at a former moment. In this example the pricing survey was early January.
The timing part is important because gasoline has jumped again since this survey was completed. The BLS data only has gas increasing at 0.1% in January; in reality it increased much more.
You can see the statistical smoothing to present the softest inflation data by looking at Food at Home, Meats, Poultry and Fish. The actual rate of inflation in that category is 40%+ at retail. The BLS deemphasizes the price increase by putting less economic importance on the category and they come up with a 12.2% increase, one third of the actual price we are feeling.
Despite the BLS putting less emphasis on food we purchase to make at home, the overall scale of 7.5% aggregate weighted inflation would indicate to us that real inflation on all items is running around 23 to 28%.
Think about the inflation you are feeling at or near 20%, then compare that outcome to the 1970’s when we thought things were bad with 15% inflation.
On the positive side, well, actually just less bad side, some of the MSM is starting to realize the importance of looking at unavoidable inflation (food, fuel, energy) as the truer measure of the pain consumers are feeling.
(NBC) – High prices continue to hit American shoppers as inflation rose faster than expected to 7.5 percent for the month of January over the previous year, exceeding the 40-year high set in December.
The latest release of the monthly Consumer Price Index by the Bureau of Labor Statistics on Thursday shows that price increases were most pronounced in food, electricity and shelter.
The indexes for food and energy each rose 0.9 percent, and the index for shelter rose 0.3 percent.
The “core” consumer price index, minus the more volatile food and energy indexes, rose 0.6 percent in January, the same as in December.
Indexes for household furnishings and operations rose 1.3 percent, used cars and trucks increased by 1.5 percent, medical care went up 0.7 percent, and apparel increased by 1.1 percent.
The rise in consumer prices appears to be sticking around, despite earlier claims by Federal Reserve Chair Jerome Powell that the effects would be transitory. (read more)
A Gallup news survey [DATA HERE] indicates that eight out of ten Americans expect higher prices and continued rising inflation, as the working class can see the through the smoke and mirrors of the Biden economy.
Overall, there are multiple datapoints that show the economic quagmire that is taking place right now. Gasoline continues to rise in price, as oil costs continue to skyrocket as an outcome of Biden energy policy. Food store prices have only just begun to show the higher prices that are built into the replenishment process.
Newly arriving goods overall are at a much higher price that previous inventory. The 30, 60 and 90-day terms of purchase order fulfillment are now reflecting the cumulative cost increases at every stage in the supply chain. Inbound prices to retail are still climbing. This is an economic quagmire created by inflation that cannot be avoided.
Fuel, food, home energy and home prices overall are rising. As a result, durable good spending has contracted. CTH has pointed out this dynamic for almost five months; however, the actual data is difficult to extract, because the scale of government spending in 2021 has clouded all of the economic indicators.
The official government inflation statistics at 7 to 9% do not accurately reflect the real inflation being felt by consumers, which is in the 25 to 40 percent range for highly consumable products. If you look around your local community, it is not difficult to see that working class Americans have modified all of their spending priorities to deal with the food, energy and housing inflation that cannot be avoided.
The bottom line is this. Despite the indicators, which have been made useless by massive amounts of money pumped into the economy, we have been in a contracting economic position since mid-2021.
This is a very important aspect to accept when you are thinking about your current financial position, and/or what you may need to do going forward.
If you recognize the absence of real economic activity surfaced mid-2021; and if you accept that absence was hidden by economic activity generated by the spending of government funds injected into the economy; then you can better predict the depth of the hole that was covered up by government intervention.
Accepting that reality then the irreconcilable data starts to make things make sense:
♦ November 2021 retail employment hiring was down. Why? This should have been the pre-holiday hiring spree. However, retailers saw something in their brick and mortar sales that stopped them from hiring.
♦ The third quarter U.S. productivity (June, July, August) was down 5%. Why? If everyone was spending their COVID stimulus, why wasn’t manufacturing making more stuff? The reality was that wholesalers were clearing out product inventories as they knew inbound replacements would cost more…. so, they replaced less.
♦ Inflation wasn’t “transitory”? Why? Because the inflation was driven by the perfect storm of energy policy, monetary policy and government spending.
♦ December 2021, retail sales were lower than December 2020. Why? Because people bought less stuff, because people had less disposable income, because food, fuel, energy, home heating and home living costs were chewing up our paychecks and savings.
♦ The U.S. savings rate started rapidly declining. Why? Inflation.
♦ In the third and fourth quarter 2021, U.S. workers started quitting more (JOLT’s report). Why? A combination of vaccine mandate (minor cause) and people jumping jobs to get higher wages because inflation was crushing them (major cause).
The people predicting more inflation all the way through 2022 are correct. We have only just recently seen the first wave of 2022 product inflation hitting the supermarket in the past two weeks. There will be more waves as the prices embedded inside the cumulative supply chain have yet to surface.
However, stop and think about this overall economic situation, a real quagmire, as identified by the simple datapoints above. The professional political class and financial pundits will never admit the Main Street economy started contracting in the middle of 2021. From their perspective, the money pumped into the system was real. It wasn’t. It was all artificial economic stimulus.
Now, into this very specific -and never before experienced- economic quagmire, where we are supposed to pretend not to know things, the Federal Reserve is about to raise interest rates.
Jimmy Carter: “I’m the worst president ever!”
Barack Obama: “Hold my beer.”
Joe Biden: “Pfft! You call that bad? I’ll show you what a bad president REALLY is!”
Biden: hold my anti-psychotics
Putin and Xi: “Joe is our kind of guy!”
No wonder Hunter is the smartest man Joe knows.
Letting in millions across the border and giving them money will have no effect on demand and in particular rents and used car prices.
Joe: “hold my crack pipe”
And all are Democrats. What a coincidence !!
I believe he will be the worst in history !
You’re making a mistake in thinking they don’t like the results. They DO like it. You can’t “build back better” (in their eyes) something that is not broken….
My masters degree is in Finance but my education is in real life and the school of hard knocks. SD covers this better than what you will get in any finance publication, website etc.
Energy production is a major factor.
Raising interest rates limits/reduces extraction.
We need affordable energy use in order to keep expanding.
Expansion is the basis of capitalism.
We are a capitalist hemisphere.
Biden has knee capped our energy production
Hence, we have inflation that has “caught up” to the economy.
Exactly! How does the Federal Reserve raising interest rates increase the production of oil and gas that Biden had reduced?
Sundance, as you have pointed out several times, the FED raising interest rates is not going to have any positive impact on inflation. More like, “let’s use this gasoline to put out that fire”.
As soon as the new Ukrainian czar, Ho, is backing from triggering Russia to invade most of eastern Europe (now she has shown the European survivors how silly there little problems really were and has provided them with a real focus), SlowJoe will put her in charge of resurrecting stagflation and this is a two for one it allows her to deal with the root cause of the border issue, (1) reduce the US economy to the point that illegals rush the border to go home, (2) provide a free college level education to every single millennial in the form of a double major in applied economics (how soup kitchens for the destitute function) and political science (the consequences of stolen elections). While the 0 was in awe of FJB’s ability to screw things up, he never realized the depth of his talent to recruit even more incompentents into his circle of influence.
I have an MBA in Economics and I second that.
I have an MBA in life and unleashing our energy sector would help with much of this.
And that is precisely why the dems killed Keystone, cancelled all new and pending leases, and closed ANWAR.
PDJT achieved US energy independence for the first time in 70 years. It only took the dems a few months to destroy it all. Enjoy your gas-station rape lefties.
When does this change enough votes to overcome cheating? I’m not sure, but until it does nothing will change short of economic collapse.
I keep saying this but prices aren’t high enough to impact Key Dem voting blocs. The dead, welfare recipients, wealthy, government workers and affluent suburban voters aren’t feeling any pain yet.
I guess we could ask the Venezuelans this question – I suspect they would answer ‘never’. This won’t end until the elections problem is fixed.
“… short of an economic collapse.”
I don’t know about you, but I think we are just about there already. It’s not going to take much to push this thing over the edge.
Lulu,
You express the understandable attitude of many posters;
“WHATS the use, they stole 2020, so ALL elections going forward are ‘no use’.
Understandable, but JUST PLAIN WRONG.
Firstly, the first bills introduced in the House and Senate, to Unconstitutionally federalise elections, are DEAD.
Secondly, many State legislatures are moving to assert THEIR authority, to control how elections in their State are conducted, and introducing a plethora of legislstion to plug the loopholes exploited in 2020.
Thirdly, many citisens groups are addressing these issues. Jay Valentines computer savvy group have been working with TrueTheVote, to clean up voter rolls. IIRC, at last count they were activebin 32 States.
This effort involves;
Firstly, PURCHASING the voter rolls from the State, which can cost $5000-$20,000 per State.
(legislation pending to make access available to the public at no charge).
Then, Valentines group saw that while Democrat Secretaries of State focused on PADDING the rolls, Rino S oS’s focused on making the rolls “unsearchable” by putting commas, etc in voters names.
Valentines group developed a search engine which could search the voter rolls, without being sidetracked by such measures.
They then gavevthe results, FREE to TrueTheVote, which is a grassroots volonteer organisation that uses various means, including old fashioned door to door canvassing, comparisons to Social Security records, etc. to ‘clean up’ the voter rolls.
But wait, theres more,…LOTS more. Too much to go into here.
Currently in Az Senate, there is a showdown between Mark Finchem, State MAGA Senator, and the Rino who is head of the Senate and who killed 10 bills for election integrity by sending them to committees.
Finchem is winning.
So, to all eeyores who say “Whats the use, ALL elections will be stolen!”
I would say READ (TGP has covered all this, well and consistently) get involved, and quit whining.
The future for election integrity is actually quite bright.
But even if TrueTheVote works and gets a “clean” vote roll, how do they force the county election supervisors to accept it and make the changes?
Exactemundo
Yes this good stuff is all running relentlessly moving in the background.
We gotta get to those voting machines and shut them down once for all.
Raising the BS flag on your post.
State legislators rigged this election by handing off election responsibilities to third party. Five states shutting down counting within minutes of each other. Five states refusing to audit elections or investigate fraud. Federal government refusing to pulled electors from fraudulent votes. Each state moving to electronic voting with machines programed with fractions.
There will never be another honest or fair election in this country again. Period.
My sons go to a private, single sex high school and so I mingle with quite a few wealthy suburban voters. Well to do people are absolutely beginning to feel the pinch at the grocery store. Of course, these are parents of teenage boys so their grocery bills are already huge. 🙂 In my own middle class to upper middle class neighborhood, there’s a lot less Door Dash going on than there was a few months ago. I expect the publicly traded restaurant stocks (Chipotle, Darden, Yum, McDonald’s, etc.) will have terrible quarters.
Look at the recent Virginia and NJ elections. Things have changed. Yes, there is going to be fraud, but it can be overcome. Democrat stronghold NJ had an upset. And no one thought Virginia would go that red, if it had any winning elections. There were. Some states have put stronger voting laws in place. A lot more people have volunteered for this coming election. There is hope. We have to keep chipping away at things. Get good Constitutionally minded people in all the State offices. Start making changes at a State level. Remove RINOs at the primary level.
The Federal level is lost. We lost that battle. The US is no longer a Constitutional Republic. But we still have the States to fight and restore our Constitutional Republic. This is where the battles are being fought right now. Keep striving on making those changes, keep voting for the right people. We are the majority.
Moreover, the Demoncrats efforts at redistricting may well backfire on them big time. In pulling off these tricks they are also diluting their base to the point where they may actually not win many of the districts they think are theirs.
Practically every day
someone new from our ranks with our moral values people who love this country are running for some official position.
They will win just as governor of Youngkin won and quickly changed the whole Virginia politics
They feel it, they just blame it on Trump.
Food stampers got a 25% increase in available funds. The rest of us didn’t.
It’s actually more than that, when you consider they don’t pay sales tax on foodstamp purchases.
That equates to an almost 30% increase for the welfare abusers where I live.
“nothing will change short of economic collapse”
Yep, 2022 will just be another swing to the gutless “lesser of two evils” half of the UniParty.
They will never make the incredibly hard choices needed to end the historic worldwide fantasy valuation bubble caused by decades of artificially cheap money due to the artificial suppression of interest rates via central planning “guided” by simplistic garbage economic theory fed with garbage data manipulated for political reasons (ex., CPI).
They also won’t do a damned thing about the rise of China. They’re CORPORATE OWNED as are the propaganda outlets called our national media. WAY too much money to be made, so the inevitable eventual consequences be damned.
Voting Republican is and has always been just a way to slow the descent away from a Constitutional Republic and eventual economic collapse. In the end, that which cannot continue indefinitely, living off a national credit card, won’t.
They, they, they, There is no freakin they. There is us, us, us. Stop whining and help us take over the Republican party or stand aside.
Amen amen
Everybody is gonna have to pay, we just need to go ahead and prepare
There’s no way to avoid the consequences of neglecting out duty to monitor and control crooked human politicians the past 70yrs who we’ve let cheat the system, rape and pillage and sell our country to highest bidder.
So then, looks like this is what’s gonna take
just to get everyone’s attention just hope it’s severe enough to do just that .
Another historic achievement for this record setting administration.
LGB!
I’d love to see honest and truthful lists, side by side, of the regime’s total accomplishments vs total failures. I suspect one of the lists would be a total blank.
They’d be identical, frankly.
Failure is the goal.
Their failures are intentional. Both sheets would have the same items on them.
FJB!
FIFY.
My God the Democrat rank-and-file is stupid. I mean really, really stupid.
And you know what they say, “You can’t fix stupid.”
Has anyone tried a flame-thrower?
Don’t think so, Eric. It is all very intentional. The goal IS to distroy US economy. Directed by the string pullers. You know who they are.
Quickest route to digital currency is a worthless dollar.
Well, wheelbarrows aren’t big enough . . .
How can you call them stupid when all this is being done on purpose?
Eric is saying the VOTERS are stupid, not the ‘leadership’ that intends to be the coming aristocracy.
Sadly, there’s no civics or IQ test connected to voting.
Evidence that Eric speaks the Truth. Exhibit #1:
Yrah cause If I were trying to decide whether to spend my $ on paying my electric bill, putting fuel in my trucks, or dining at a restaurant, ….”weighting” the #’s sounds just like the old butchers thumb on the scale.
Fortunately, my household aren’t on the Credit enslavement trap, and are budgeted to be able to weather some pretty extreme price increases, before it causes us more than minor inconvenience.
I know not all or even many can say that,…
Dutchman, you are right. Unfortunately, the U.S. govt now shapes everything around their political intent for special interests…. And that goes all the way down to how they present economic data.
Let’s face it Biden, Piglosi and Company are going to keep this going as long as possible.
They want you poor and weak…. so when they call you a terrorist
you will be easier to put in the Gas chambers, or the Trains to the camps.
We also are not on the credit enslavement and have watched friends and family buy bigger houses and more stuff “on time” sadly.
We now are in a place where we have farm and ranch land and our home paid off.
We own our older vehicles.
We buy nothing on credit and seldom did when we were younger except for the big items like our farm and ranch ground.
We live what many would call “simply” with things paid off but with a house in good shape and a huge pantry and two freezers full of food.
The simple slow country life that so many big shots use to snicker and laugh at in the cities.
Not Treepers of course because they understand what has value in life, but the news readers and celebs which I no longer watch since we canceled our DISH subscription years ago.
So many smarmy big shots making fun of people like us and the Truckers in Canada who by the way are going to change the World.
Hank Jr sang it A country boy can survive.
I just watched an old GF buy a $850,000 house that sold for $400,000 a year prior.
What in the world are these people doing to make that kind of Payment?
She has kids too.
And large pantries Dutch.
I would like to see the cost on these items per state.
Here in deepest blue Oregon, I still see gas at less than $4
and food costs are holding steady.
So, how does that compare to red states? That’s the biggie.
I think they’re doing what they can to keep costs down
in blue states and letting things screw down on red states.
I’m in Texas right now but I split my time between here in Hill Country and on the Central Coast of California. Gas is less than $4 a gallon in Texas, but still up almost a dollar from when Trump was President. California gas prices are always the highest in the country and they are near $5 per gallon where I live.
Groceries are also significantly higher in both places and many of the things I buy are frequently out of stock.
Yes, when Trump was president, gas here was under $2/gallon.
Gas was $1.69 last under Trump, Immediately went up to $2.79 under Biden, now is around $3.40 per gallon on base grade.
I last paid $2.79 for gas here in The Woodlands, TX. Your figures sound a bit high.
Most here are at $2.99 to $3.05 as of today here in the Woodlands.
Sams is at $2.93, the lowest in the area according to Gas Buddy.
Range is from $2.93 to $3.19 in the Woodlands.
We just passed $3/ gal here in west Texas.
Gas i just under $3/gal in OK but it was a dollar or more less a year ago. But we are the central hub for gasoline disribution, so transportatiin costs for gas are lower here.
Gas here in the Philadelphia/NYC corridor is still under $4, but food prices are very high. Our grocery bill is up 40% to 50%. Inflation is definitely starting to affect wealthier upper middle class families. People I know are beginning to make easy, relatively painless substitutions, e.g. rotisserie chicken instead of Door Dashed Chipotle. I can’t shake the feeling that real pain is around the corner.
Here in northeastern NC, gas was $3.14 a week ago, but in a couple of days has jumped to $3.39. Based on what oil is doing, I see it heading to $4.00 soon. My wife and I are lucky as we are retired and don’t drive a lot. But this is a rural area and many folks have to drive long distances to their job. I am sure they are feeling the pain.
Now that you mention it, one of the reasons it’s probably taken wealthier people longer to feel the pain is that they drive so much less than they used to. Nearly all the white collar people I know are working from home these days and have been for the last two years.
Propane in Southeast NC
$2.89 a gallon
It jumped .20/gal. Today where my daughter works in piedmont NC.
Holden beach/ Supply southeast NC. Gas jumped to 4.19 a gal today. Up .30 cents. High test. I’m figuring $5.00 by summer.
Food costs holding steady ? Not in sweet home oregon.
I don’t think the 16 cents from the 4th of July is going to cover muh shortfall.
Baby I do believe you are displaying insufficient Revolutionary Fervor! 🙂
Economist John Williams says the real inflation rate is 14.8 %, if you disregard all the gimmicks the government uses to make inflation look less than what it really is.
The site Shadowstats, where John Williams is, always a truer picture of the actual figures.
And…..it’s worse than that. Calculation of inflation has changed twice since Carter was in office. If the same methods were used, inflation would be higher than 15% per year.
http://www.shadowstats.com/alternate_data/inflation-charts
I hope between Tucker, Rogan, Hannity, Bongino, Levin, Peters and all the big bloggers that they unite and share the truth with Americans that real inflation happening right now is closer to 20-25% than it is 7.5%
The left lies everyday of they are alive.
About everything in every way, include when and where the sun comes up.
You ain’t seen nothing yet.
We’d better not any Republican applaud one single line of the coming SOTU mumble, and the response needs to be delivered by a pitbull. A non-politician Joe the Trucker pitbull would be great.
Trump should deliver the response at a rally
personally I’d like to see shouting and fisticuffs during the SOTU. it would be at least as insightful and far more entertaining. Plus it has the benefit of putting on screen where the republic is at, on paper.
Remember those Fights in Ukraine Assembly?
Those were the warring factions in their Govt’ after Obama and Biden Installed a bunch of Nazi like Lefties who answered to them and the Queen.
It is sad that the people responsible for providing and analyzing data are cooking the books. It makes them that much less credible. If they believe their own fantasies, they are that much more likely to double down on stupid.
This is not unlike China putting out an economic report and everyone rolling their eyes.
People feel real inflation in their pocketbook.
Gas was $2.90 in my area in December which is outrageous enough, it is currently $3.30. Food that is available gets more expensive every trip to the grocery store. We have cut back on eating out so that really doesn’t matter. It’s not summer yet but I can’t wait to see my electric bill in July at the pace we are on.
Free school lunches are really free. BLS. Food prices at school cafeterias declined 46.7% YOY.
Only the government thinks something has no cost when others pay for it.
The states are not allowing the children in school and many businesses are virtual. If there are no students or workers there is no need for food. Decrease is in demand not price.
I’d rather they just cut me a check, and I’ll buy what I need for my kids lunch.
Instead of wasting money on garbage lunches for kids.
But it’s not wasting money. It’s helping to keep garbage men (oops, sanitation engineers) employed when the kids throw away their crap Michelle lunches.
Didn’t a President’s wife recently “fix” this school lunch problem with her garden?
TANSTAAFL!
I think all kids are getting free lunch in every elementary in America even private schools if they ever allowed scholarship students to file for free federal lunch.
My kids private K to 12 has had free lunch all last year and this year for every student and the government sends these snack bags too. We couldn’t pay for hot lunch if we wanted too it’s no longer an option.
My kids school cut breakfast off completely. Lowering from 2 meals a day to 1. Probably accounts for that number.
I hate that government spending is included in GDP.
When the govt hires someone, they don’t produce anything of value. That means no pressure to return value to the employer.
Govt takes money from those who would produce things or buy those products and then govt spends that money on waste.
Govt even spends money that is borrowed or doesn’t exist.
So a portion of the GDP is imaginary and a lot more is waste, not products or services. But a portion of govt spending is on products and services. And govt payroll gets used in the same way private sector payroll is used. So some govt spending does increase Domestic production.
So, for a while, they could say our economy is good because they count govt spending increasing, but that increase is of money that doesn’t exists
That is a perfect picture of a NAZI.
The fear that a peasant revolve is coming is quite palpable. That’s why the Government Party rolled out McConnell and McCarthy to lie about the “violent insurrection”. They’re trying to scare people out of the idea of a truck convoy / blockade situation which they cannot control the outcome of. It’s also why there seems to be a mad rush for the door to drop the mask mandates by Governors. Even that weasel Kemp in Georgia is saying he wants to drop it…what a turd that guy is.
I hope y’all spent time preparing for this. We’ve been stocking up for months.
I just bought another 20 lbs of rice and some more Goya beans during my trip to the grocery. I also bought 10 large cans of Chef Boyardee ravioli. Every trip to Publix is buy more canned goods to add to the stockpile.
Ooh! Chef Boyardee canned goods reminds me of my childhood. You’ve made me out them on my list!
Start making your own yogurt, cottage cheese, cream cheese. Really easy. I am canning everything and planting seeds this weekend
I bought these for my kids to add to the emergency stash. Some candy I hid away, things to break up the monotony if we really had to live off of our stored food awhile.
IMO, the Fed should have started.raising rates well before now. They’ve always said they wanted to get ahead of inflation. They should have started at .25%, quietly and gently applying the brakes long before they hit the buffers at speed with inflation.
Now they are boxed into a corner of their own making. This is what happens with rabid Keynesians in charge. And who will pay the price for their faulty academic models? Everyone.
Fed prime rate –
February 19, 1980 15.75
February 22, 1980 16.50
February 29, 198016.75
March 4, 1980 17.25
March 7, 1980 17.75
March 14, 1980 18.50
March 19, 1980 19.00
March 28, 1980 19.50
April 2, 1980 20.00
April 18, 1980 19.50
May 1, 1980 18.50
offcoursenation: I recall signing my first student loan, late summer of ’79. My father and I walked into the main branch of our small town bank. The loan officer knew my father by name. A few weeks later, I was off to college. I think my first loan was around 12%, so, 15.75% by the following February sounds right. I remember money market rates above 18%.
Ah yes…I remember it well. It was monstrous…and I had a mortgage to prove how bad it was.
They cannot raise rates significantly with 30 trillion in debt, it would blow the budget out of the water.
Completely predictable because the inflation is deliberate: they are planning to blame greedy companies and capitalism in general, which will lead – by design – to calls for wage and price controls,then nationalization of certain industries, leading to more nationalization, and eventually a “scientifically” controlled economy – controlled by computer algorithms – to make everything “fair.”
Would it be inaccurate to say that they are going to use the same types of algorithms and systems used on Wall Street, i.e. high frequency trading to run everything?
Yes, precisely something similar to that!
“SkyNet” is not far away, unfortunately.
Yes. Have you seen the AT&T commercial with the little girl and her “fair” lollipop? The communist messages aren’t even subtle anymore
Biden is so bad that I would rather have Obama back. I never thought this country would be able to fall apart this fast.
You still have Obama in charge. Biden is president of his adult diaper.
Hard to believe we’ll make it to November, let alone 2024.
I told a friend if Biden got installed , they would try to cripple the USA before the next ” selection/election ”
We are in about 3rd gear , hang on !!!
Biden is a puppet of the WEF, NWO. He’s making none of these decisions on his own, never has never will. They love us focusing on the wrong people. Just like Bill Gates, he’s a puppet and all our anger goes towards him and not the controllers he sold his soul to. The list is long.
He may be the wrong person to focus on, but in our Country he is the Chief, whether he stole it or not.
He is directly responsible not only for our problems economically, but also the worlds.
As these other folks see him cheating and robbing us, they believe they can do the same to their populations.
This is how you end up with a Socialist Hitler…. or many in this case.
The same puppet masters who controlled Zero also control Brandon.
no, we need a complete moron, without a deck of race cards, to totally face plant
he never left. we are in his 3rd term
You’re talking about the same people. Biden IS Obama’s third term. I would never want that man in office again. I don’t ever want to hear that voice again as long as I live. He set all this in place.
Sure it was mostly his handlers executing things, but he was a true believer in all that Marxist BS. They used his skin color to rapidly push through radical unamerican laws like the ACA, and shouted racist when ever anyone questioned his citizenship or hatred of America.
Now those same handlers are using Hoes senility to push even more radical laws and policies at an even more rapid pace.
The only time I ever want to hear either of them speak again is when it’s their last words at the trial for their treason and crimes against humanity.
You have Obama now. It’s Obama unchained. Biden is the front man.
Notice at 1:34 the Very Fake News lady says a lot of folks are saying what is the administration doing about it. Answer: the job of fighting inflation is the federal reserve. True to a point, but the intention to plant in people’s heads is to absolve of FJB of all responsibility. Because, you know, those upcoming midterms.
Three truths to hide the lie between them.
The BLS should be required to publish the results utilizing the base period weighting as well, whenever they change these weights, for comparison purposes.
There are good reasons to adjust the wights given to various categories over time, but there are also too many arbitrary – political – reasons to make adjustments, and in this in distrust of the institutions – I do not trust any of them anymore – it is critical to have transparency.
When numbers are “weighted” or “adjusted”, it just means someone monkeyed with the raw numbers in a way that is unknown to everyone else. Unless we know the weighting factors and that the reasoning behind the weighting makes sense, it is just some more numbers spewed by charlatans and liars.
Same thing happens with global temperature tracking. Raw numbers are weighted in one direction only.
No problem! They’ll just print more $$$$ and send everyone and their cousin(s) $1200 “stimulus checks”
PDJT made deals with members of OPEC, and leveraged others.
PDJT opened up drilling and fracking lands.
PDJT made energy more available, therefore cheaper.
Its the basis of a growth economy.
Available, affordable energy sources.
Thats why we are where we are at.
Thats why PDJT could hold Russia, NATO, Iran over a barrel
and leverage OUR energy production,
and the delivery systems of other nations,
in our favor.
Dude is a mastermind of business, and the world misses him.
But, but mean tweets!
But remember, at some point inflation year to year will be old “normal” but prices will still be high and will stay there. But they will say they defeated inflation and the 30-40% idiots will believe them and the RINO GOPricks won’t take the easy brass ring.
Bidong is really, really good at inflation. 10%, 15%, how about 20% for the Big Guy due to inflation.
Do you think they are trying to bankrupt the US to get out of the 30 trillion debt?
it would appear so.
Small nitpick with some significance.
Rising prices are not “inflation.” Rising prices are a result of inflation — that is, an unjustified increase in the money supply.
By leading us all to continually mis-define “inflation,” politicians have neatly moved themselves out of the position of being the true villian, which they are, to the position of blaming everyone that had to raise prices because of the inflation they did.
It is a rock-solid guarrantee that you will soon hear a politician raving above those greedy energy companies, food suppliers, and landlords, etc., all of whom are just doing what they must to survive under the onslaught of what the politicians have unleased.
But Jen, The Freaky Redheaded Wizard of Everything Political, said that “We didn’t have to worry about inflation if we just didn’t buy anything.” Such Wisdom From someone in such a high e-steamy pile of excrement, floating in the DC Cesspool.
Do You Miss Me Yet?
The answers are darn right spooky.
The figure I keep seeing is 11 million available jobs. Does anyone know where the workers are? I’ve asked numerous people and no one has had any idea until yesterday. A Kroger employee was talking about their need to decrease hours open to consolidate their available work force. She said new hires take the job and then don’t show up so they have to fire them. This would allow the person to apply for unemployment. Is that correct? Do we really have that many non motivated people in this country who don’t want to work? Does anyone have a handle on where the workers are?
Not quite. Fired employees that are fired for “cause” do not get unemployment. “Laid Off” employees can apply for unemployment.
I’m flummoxed by the lack of employees. My question is, is the government still giving out stimulus? Where are all the workers? I know many quit due to mandates, but is it truly inflation that is keeping companies from hiring (as Sundance posits) and so there are no jobs anymore? Restaurants near me, in NOVA of all places, are closing a couple days per week due to lack of staff. But that doesn’t seem to add up, unless someone tells me the government is actually paying everyone to stay home.
How are people surviving if there is no more stimulus? This is throwing me for a loop..
Bshaw, someone did tell me they thought Covid killed them off. The governments numbers would have to be way more rigged than any of us can imagine for them to add up to 11 million. I read an article that if you made 53 thousand or less it paid you to stay home but I think that’s when the government money was being handed out. Am in the Seattle area and there are help wanted signs in every store window. There were not 11 million who jumped to better paying jobs. Where is the work force and why is it not fully employed? You have to have something to live on.
Exactly. These people can’t all be living with their parents. How are they living?
Here in Western North Carolina, we paid 3.26 for a gallon of regular unleaded. Today it is 3.39, same station! We will be up to 4.00 in no time!
Way to go Brandon!!😠
Welcome to 2008 on those home equity loans. https://www.gobankingrates.com/loans/home-equity/heloc-adjustable-rate-fix/ and all the other adjustable rate loans that people have ventured into.
The party is over for all the moonbeams and moonbats.
Blackrock is licking their chops.
Shelter only up 4.4% over 12 months!? More BS.
Apartment rent and occupancy hit record highs, even as market enters its traditionally slow season – Dec 6, 2021
https://www.msn.com/en-us/money/realestate/apartment-rent-and-occupancy-hit-record-highs-even-as-market-enters-its-traditionally-slow-season/
The annual increase in asking rents for new move-in leases hit 13.9%.
Our foreclosures here in NC are up 85%
Apartment rents up Nationally 14.4% and in the majors cities double that and more. NYC at 36%, Austin at 40%.
Of course the source for that was a recent article in the Washington (Com)Post. Don’t have a link but it was published on January 30th 2022.
In a possibly related news story, the BIQS (Bureau of IQ Statistics) announced that Joe Biden’s adjusted IQ is 156.
The exact amount of the total adjustments is unknown, but is thought to be somewhere around 84.
Anyone paying attention knows that the inflation rate is higher. It’s sobering when you realize that every single thing you ever believed is a lie. The numbers have always been manipulated, from the economy, climate change and health care. My sister just called crying. Her 36-year old son had a seizure, and a scan shows a lesion on his brain. He got the clot shot in September and October. He drives for a living, so his livelihood is in jeopardy. Ironic, since he took the clot shot to SAVE his job. I will never again believe anything but my own lying eyes. If my pocketbook tells me inflation is 10%, then it is 10% in my world, no matter what anyone else tells me.
“The numbers have always been manipulated”
http://www.shadowstats.com/alternate_data/inflation-charts
The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here reflects the CPI as if it were calculated using the methodologies in place in 1980. In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living.
Thank you, Sundance.
My own personal experiences are my electricity bill is $50 more this month with nothing changed. Although over inflated, my property value is down more than $20,000 in just 3 days. My well planned and frugal Aldi weekly groceries have gone from $80, to $170.
I note foreclosures around here are starting to climb, and getting back to groceries. Aldi frozen vegetables if you can find them are the same price, but no longer 16 ounce bags, but 12 ounces.
My husband and I just had a conversation this weekend while at the grocery store. There are just the two of us now, but if we were trying to feed our three children right now (2 athletic sons with ridiculously large appetites), we would really be struggling. Add all the other costs,and honestly, I don’t know how families are surviving right now.
I picked up 50 pound quick oats for $30 from Azure standard Online. There are many drops to collect from. I am happy to eat oats twice a day and meat for dinner
We had some particularly lean times when raising our children. None of them would ever say that they went to bed hungry. There were many sleepless nights worrying about not only feeding them, but keeping a roof over their heads, clothing them, keeping the house warm, putting gas in the tank to get to our jobs. Dealing with skyrocketing prices of ONE part of raising a family is perhaps doable. Being besieged on every single front, not so much.
They’ve been doing those tricks for years. Ever look at how many ounces of coffee you get now in the old one pound can?
I don’t remember the exact number but wasn’t the recent US GDP report at somewhere around 6.7 percent. Doesn’t 7% inflation sort of negate the GDP because it’s based upon money spent and not upon growth. If the two numbers correlate, then are we not at a -.3% in real economic activity? Economic activity that actually creates growth. I do understand that both sets of numbers are heavily massaged to make FJB look good and so I would guess that the economic activity is even worst. Growth may even be in recession.
I’m not an economist, I don’t pretend to be one and so I don’t mind at all if my thinking is shown to be on the wrong track.
Gasoline is heavily subsidized (as I’m sure many things). The price folks are quoting is the ethanol gas. Check your ethanol free gas prices usually a pump at the station. Not subsidized. Sometimes 40-60 cents higher.
I am 73 years old. I remember all too well the inflation and the interest rates of the mid 70’s and the first few years of the 80’s. The stuff of which nightmares are made to say the least. I fear that what we face in the near future through 2025 will turn out to be even worse. The fear I feel feels visceral.
If Americans can no longer splurge on Chinese junk (pardon the pun), how will this tightening of the collective American belt impact the Chinese economy?
Gas prices jumped 21 cents/gal. today where my daughter works in NC. Prices had been holding steady at $3.19/gal. for regular and spiked to $3.30 today.
I don’t know much, but I do know that raising interest rates is only going to help the rich right now.
When you go to the store and crappy toilet paper just went up $5, just that one thing alone tells you something.
I remember when a box of something at the grocery store was a $1, then the boxes got smaller and it went up to $2.50 and never went down again, and now that same small box is $5. People who don’t have a lot of money cannot withstand this inflation and it makes me very angry at this Administration for all the crap they’ve pulled. I don’t watch Mainstream Media – it’s just too painful. Sundance calls them the Stenographers. To me they look like robots with makeup and they all have the same programming where they just repeat lies.
And one of the reasons the DOJ wants to target people who criticize the Biden administration as “domestic terrorists” is because “we” undermine confidence in the government – or did I misread that?
They are undermining confidence because of their failure to be honest about how damaging their policies are! I guess they want everyone to bury their heads in the sand and pretend that gasoline hasn’t jumped by $3 a gallon.
Fertilizer prices are rising fast and worldwide supplies are tight. Another factor that will raise food prices.
They are turning us into Venezuela (on purpose)!
I’m seeing items (I need to buy ) rise by 15%+ in the last week alone…. F*ck Joe Stalin and all Commies like him.
Gas up 30 cents a gallon in just the past few weeks here in southeast PA. FJB did that too!
Really hard to argue that FJB isn’t the worst President ever. Fraudulent or otherwise.
Reminds me of a joke that President Reagan learned from a jaded Russian in the USSR about achieving “Full Communism”.